Gregy - NEO has approx 3 times as many shares as OPL.
OPL has a market capital of $47million, compared to NEO's market capital of $13mill.
Maybe it has more to do with other things where the 2 are not in joint programmes. including other current gas producing finds.
Look back over old ann's,
Here's one for you
Orchard Petroleum Limited
ABN 25 061 655 463
6 September 2004
Joint ASX and Media Announcement
Larner 1-12 Encounters Gas
Orchard Petroleum Limited (ASX; OPL) (Orchard) and Orchard Petroleum Inc. (OP Inc), a
wholly owned subsidiary of Orchard, are pleased to announce that the Larner 1-12 exploration
well has reached its targeted depth of 8,000 feet and has encountered gas in the primary
objective at approximately 7,400 feet along with additional hydrocarbons in shallower secondary
objectives.
Electric logging has been completed. The decision to set pipe and complete the well has been
made. A testing program will begin once a service rig can be scheduled.
The next well in the Forbes Gas Project will commence within the next two weeks.
Steve Graves, Executive Chairman, said, “We are very pleased to be setting pipe on our first
well in the Forbes Gas Project. This is our third project in California including Sledge Hamar
and McCormack Road where we have had success over the last year. It holds significant
importance given our planned multi-well drilling program in the Forbes Gas area and large
working interest in the project.”
Larner 1-12 is located in the Sacramento Basin of California.
Participants in Larner 1-12 are:
OP Inc 50%
Matris Exploration Company(Operator) 50%
For further information please contact Mr Steve Graves on 0011 1805 4694656.
Join Orchard’s e-news list at www.orchardpetroleum.com
The geological information included in this announcement is based on information
provided by Mr Edward Duncan, a qualified geologist employed as a technical consultant
to the Company. Mr Duncan has practiced as a geologist in the petroleum industry for
over 20 years. Mr Duncan has consented to the inclusion of the geological information in
this announcement in the form and context in which it appears.
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- opl has gone up in 15million y not neo
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nuenco nl
opl has gone up in 15million y not neo, page-4
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